Ge ne r al F und F or e c ast New employee group MOUs CalPERS - - PowerPoint PPT Presentation

Summar y

• Biennial budget – useful for this environment
• Unusual situation – projecting deficits in a

healthy economy

• Priorities – public safety, risk mitigation
• Unmet priorities – capital renewal, unfunded

retirement liabilities

Ge ne r al F und F

• r

e c ast

 New employee group MOUs  CalPERS rate increases  Minimum wage increases  Reserves replenished  Tidelands activities to Tidelands Fund

Highlights/ Change s fr

• m

Study Se ssion

 Two Police Officer Positions added; both recommended in FY17/18  Funding for Public Safety – further discussion necessary  $300k added to Capital Renewal reserves  Special Event Grant Program  Promotion accounts status quo (MCCVB/BID’s)

Highlights/ Change s fr

• m

Study Se ssion

FY16/17 FY17/18 FY18/19 Estimated Ending Balance (Original Forecast) $4,690,000 $3,460,000 $1,287,000 Move Police Officer to First Year

• 165,000
• 165,000

Add $25k to Reserve (Econ Uncertainty (@15%)

• 25,000
• 25,000

Add $300k to Reserve

• 300,000
• 300,000

Final Estimated Ending Balance $4,690,000 $2,970,000 $797,000

(15%)

Adopt Proposed Biennial Budget including Amendments

$72,468,343 $52,865,064

FY17/18

General Fund Special Funds

$74,899,395 $52,550,758

FY18/19

 Budget is starting point; significant work still to be done to address deficits  Additional needs to address:

Capital Renewal PERS Liabilities

 Potential impacts of Federal program eliminations

CDBG funding

Joint Powers Financing Authority

Biennial Budget FY 2017/18 FY 2018/19

Bond Issuances

• Materials Recycling Facility at

Ryan Ranch ($4M)

• Sublease funds debt service
• Final Payment FY17/18
• Sports Center Expansion ($9.9M)
• Lease revenue bond (refinanced

2013 $7.2M)

• Transfer from General Fund

Ocean View Plaza Community Services District

Budget FY 2017/18

Annual Budget

• Professional services $20k
• Insurance $7k
• Reimbursable by developer